Associated Banc-Corp Stock Forecast
Stronger technical forecast for Associated Banc-Corp stock price after Friday trading.
(Updated on Apr 26, 2024)
The Associated Banc-Corp stock price gained 0.94% on the last trading day (Friday, 26th Apr 2024), rising from $21.37 to $21.57. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.60% from a day low at $21.18 to a day high of $22.15. The price has risen in 8 of the last 10 days and is up by 6.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 461 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $47.34 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $21.59 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Associated Banc-Corp stock with a 90% probability to be traded between $20.18 and $21.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ASB Signals & Forecast
The Associated Banc-Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $21.02 and $20.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.39%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Associated Banc-Corp stock
Associated Banc-Corp finds support from accumulated volume at $21.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.97 (4.60%) between high and low. For the last week, the stock has had daily average volatility of 2.96%.
Since the Associated Banc-Corp has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $20.72 (-3.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ASB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Associated Banc-Corp to open at $21.63, and during the day (based on 14 day Average True Range), to move between $21.02 and $22.12, which gives a possible trading interval of +/-$0.552 (+/-2.56%) up or down from last closing price. If Associated Banc-Corp takes out the full calculated possible swing range there will be an estimated 5.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.86 (1.34%) than the support at $21.01 (2.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Associated Banc-Corp stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Associated Banc-Corp stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.963 Buy Candidate Upgraded
Predicted Opening Price for Associated Banc-Corp of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$21.63 ( 0.286%) | $21.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.61 | 4.81 % | |
R2 | 22.23 | 3.08 % | ||
R1 | 22.00 | 2.01 % | ||
Current price: | 21.57 | |||
Support | S1 | 21.26 | -1.44 % | |
S2 | 21.03 | -2.51 % | ||
S3 | 20.66 | -4.23 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 22.00 | 1.99 % | ||
R1 | 21.86 | 1.34 % | ||
Current price | 21.57 | |||
Support | S1 | 21.01 | -2.60% | |
S2 | 20.84 | -3.38% | ||
S3 | 20.54 | -4.78% |
ASB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 29, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.220 | 1.09% |
2 | Oct 25, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.220 | 1.04% |
3 | Jul 25, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.210 | 1.19% |
4 | Apr 25, 2023 | May 31, 2023 | Jun 15, 2023 | $0.210 | 1.22% |
5 | Feb 01, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.210 | 1.09% |
FAQ
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